Varieties of Capitalism & Corporate Governance

Around the world there is great variety in systems of production and the organisation of work. The institutions of labour regulation intersect with the mechanisms of corporate governance at two levels: the level of the firm (constitution and governance of the firm and influence of workers in workplace decision-making), and at the level of the market (the degree to which employment conditions are centrally regulated across the labour market generally, or left for self-regulation between employers, unions and workers in particular industries, occupations, sectors or enterprises).

The relationship between corporate governance and the management of labour has received renewed attention in the past decade or so. Locally, this is partly due to a stream of high profile corporate collapses which have left employees out of pocket as regards wages and other entitlements. Labour lawyers’ attention has been drawn to the corporate form itself and how its manipulation through, for example, deliberate asset stripping and the use of group structures might be used to achieve certain industrial relations ends, and thence to the question of how employees’ claims can be strengthened as against the rights conferred by corporate law on shareholders and secured creditors in such circumstances.

My research in this area has focussed on the ways that the organisation of work is impacted by styles of corporate governance. 

See also my blog posts under the keyword 'Varieties of Capitalism and Corporate Governance.'

Publications

Books

Mitchell, R., O’Donnell, A., Marshall, S. Jones, M. & Ramsay, I., Law, Corporate Governance and the Management of Labour: A Study of Australian Regulatory Style and Business Practice, Ashgate, 2011, 242 pp.

Marshall, S., Mitchell, R. & Ramsay, I. (eds.), Varieties of Capitalism, Corporate Governance and Employees, Melbourne University Publishing, 2008, 328 pp.

Journal articles (refereed)

Rachagan, S., Marshall, S., Poon, WC., Satkunasingam, E., Board diversity: Lessons from Malaysia, (2015) 6(1) International Journal of Corporate Governance, 194. (No ERA ranking) (11,088 words).

Marshall, S. & Ramsay, I., Stakeholders and Directors' Duties: Law, Theory and Evidence, (2012) 35(1) University of New South Wales Law Journal, Forum Volume 18 No 1 - Directors' Duties Revisited 291. (ERA Rank: A*, Law) (9771 words). [download this article]

Mitchell, R., Gahan, P., Stewart, A., Cooney, S. & Marshall, S., The Evolution of Labour Law in Australia: Measuring the Change (2010) 23(2) Australian Journal of Labour Law 61 (ERA Rank: A, Law) (15179 words).

Marshall, S., Mitchell, R. & O’Donnell, A., Corporate Governance and Labour Law: Situating Australia’s ‘Regulatory Style (2009) 47(2) Asia Pacific Journal of Human Resources, 150 (ERA Rank: B, Business & Management) (7938 words).

 Marshall, S., Anderson K. & Ramsay, I., Are Superannuation Funds and Other Institutional Investors in Australia Acting Like “Universal Investors”? (2009) 51 Journal of Industrial Relations, 439 (ERA Rank: A, Business & Management / Applied Economics). [download this article]

 Anderson, S., Jones, M., Marshall, S., Mitchell, R. & Ramsay, I., Shareholder Primacy and Director’s Duties: An Australian Perspective (2008) 8(2) Journal of Corporate Law Studies, 161 (ERA Rank: A, Law).

Forsyth, A., Korman S. & Marshall, S., Joint Consultative Committees in Australia; An Empirical Update (2008) 16(1) International Journal of Employment Studies, 99 (ERA Rank: C, Business & Management).

Barnes, A., Josev, T., Lenne, J., Marshall, S., Mitchell, R., Ramsay, I. and Rider, C., Employee Share Ownership Schemes: Two Case Studies (2007) 35 Australian Business Law Review, 73 (ERA Rank: B, Law). [download this article]

Woodward, S. & Marshall, S., The More the Merrier: Stakeholders in Not-for-profit Companies (2004) 10(1) Third Sector Review, 101 (ERA Rank: C, Multidisciplinary).

book chapters

Jones, M. & Marshall, S., ‘What Do Australian Directors Think about Partnership between the Company and Its Employees?’, in Varieties of Capitalism, Corporate Governance and Employees, Marshall, S., Mitchell, R, & Ramsay, I. (eds.), Melbourne University Publishing, 2008, pp.188-220 (11783 words).

Korman, K., Marshall, S. & Ramsay, I., ‘Do Australian Institutional Investors Aim to Influence the Industrial Relations of Investee Companies?’, in Varieties of Capitalism, Corporate Governance and Employees, Marshall, S., Mitchell, R. & Ramsay, I. (eds.), Melbourne University Publishing, 2008, pp.245-276. [download this article]

Marshall, S., Mitchell, R. & Ramsay, I., ‘Varieties of Capitalism, Corporate Governance and Employment Systems in Australia’, in Varieties of Capitalism, Corporate Governance and Employees, Marshall, S., Mitchell, R. & Ramsay, I. (eds.), Melbourne University Publishing, 2008, pp.1-18.

Jones, M., Marshall, S., Mitchell, R. & Ramsay, I., ‘Corporate Governance, Shareholder Primacy and the Interests of Employees: Evidence from a Survey of Australian Directors’, in Varieties of Capitalism, Corporate Governance and Employees, Marshall, S., Mitchell, R. & Ramsay, I. (eds.), Melbourne University Publishing, 2008, pp.158-187.

monographs/research reports/other

Marshall, S. & Ramsay, I., Stakeholders and Directors' Duties: Law, Theory and Evidence, University of Melbourne Legal Studies Research Paper No. 411, Melbourne Law School, University of Melbourne, 2009, 53pp. [download this article]

Landau, I., Mitchell, R., O'Connell, A., Ramsay, I. & Marshall, S., Broad-Based Employee Share Ownership in Australian Listed Companies: Survey Report, Research Report, Employee Share Ownership Project, Melbourne Law School, University of Melbourne, 2009, 92pp. [download this article]

Jones, M., Marshall, S., Mitchell, R. and Ramsay, I., Corporate Governance and Workplace Partnerships Case Studies, Centre for Corporate Law and Securities Regulation and Centre for Employment and Labour Relation Law, University of Melbourne, and Department of Business Law and Taxation, Monash University, 2008, 149pp. [download this article]

Jones, M., Marshall, S., Mitchell, M. & Ramsay, I., Company Directors' Views Regarding Stakeholders, Research Report, Centre for Corporate Law and Securities Regulation and Centre for Employment and Labour Relation Law, University of Melbourne, 2007, 124pp. [download this article]

Anderson, K., Marshall, S. & Ramsay, I., Do Australian Institutional Investors Aim to Influence the Industrial Relations of Investee Companies?, Research Report, Centre for Corporate Law and Securities Regulation, and Centre for Employment and Labour Relation Law, University of Melbourne, 2006, 84 pp. [download this article]

Barnes, A., Josev, T., Lenne, J., Marshall, S., Mitchell, R., Ramsay, I. & Rider, C., Employee Share Ownership Schemes: Two Case Studies, Research Report, Centre for Corporate Law and Securities Regulation, and Centre for Employment and Labour Relation Law, University of Melbourne, 2006, 33pp. [download this article]

Marshall, S., The Stakeholding Theory of Corporate Governance: Can it deliver upon its promises?, Working Paper No. 17, Centre for Employment and Labour Relations Law, Faculty of Law, University of Melbourne, 2000, 37 pp.